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01336 NCI
RTNominal up30.250 +0.050 (+0.166%)

07/01/2020 10:48

{I-bank focus}Daiwa raises NCI (01336) to HK$35: "hold"

[ET Net News Agency, 7 January 2020] Daiwa Research raised its target price for New
China Life Insurance (NCI)(01336) to HK$35 from HK$32 and maintained its "hold" rating.
The research house said NCI's new strategy from 2H 2019 pursues a balanced growth in
both volume and value with rising focus on volume. It aims to gain market share and become
one of the top-5 life insurers in China in terms of premium in 3-5 years.
Daiwa said NCI may adjust some operating assumptions for 4Q 2019 (especially the
morbidity rates in critical illness policies), which may lead to a negative impact on its
profit. Daiwa lowered its 2019-21 EPS forecasts by 8-9% for the unfavourable morbidity
assumption changes and unfavourable profitability trend. (KL)

Remark: Real time quote last updated: 26/02/2020 17:59
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